BUSINESS

N26b Police Pension Fund found in UBA, GTBank, others

N26b Police Pension Fund found in UBA, GTBank, others

The Senate Committee probing the management of pension fund heard yesterday that N26 billion out of N32billion Police Pension Fund has been traced to five banks. The looted funds, it as gathered, were found in Fidelity Bank, United Bank for Africa (UBA), ECO Bank, Guarantee Trust Bank (GTB) and First Bank. The disclosure was made […]

Nigeria faces big oil price risk – Sanusi

Nigeria faces big oil price risk – Sanusi

Any sharp fall in oil prices would be a relief for much of the world, but for Nigeria it could spell big trouble, the Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi has said. “There will be a very bad day and a lot of gnashing of teeth if the oil […]

Nigeria going broke – Okonjo-Iweala

Nigeria going broke – Okonjo-Iweala

NIGERIANS got yesterday a rare insight into this country’s financial health. But the news is not cheery. The country is going broke, with only $3.6 billion left in the excess crude account, Finance Minister Dr Ngozi Okonjo-Iweala said. The Coordinating Minister for the Economy (CME) spoke when she met with members of Civil Society Organisations […]

First Bank staff fingered N110million pension scam

First Bank staff fingered N110million pension scam

The theft of a total sum of N110 million pensioners’ money by three workers at the Accounts Department of the Federal Civil Service Commission (FCSC) occurred with the connivance of some First Bank of Nigeria Plc staffers, according to emerging revelations. In a statement to the EFCC, the Bank’s business Development Manager, Ibrahim el-Rufai, admitted […]

Fed Gov, States, LGs share N620bn in February

Fed Gov, States, LGs share N620bn in February

The Federal Government and the other two tiers of government will share N620.738 billion for the month of February. A meeting of the Federation Account Allocation Committee (FAAC) meeting, which dragged on into the night ended with confirmation that the federal government would receive N260.187billion, the states N131.970billion and local governments N101.744billion as statutory allocations […]

SEC Compromised, DG Oteh Admits Hiring Access Bank Top Staffers

SEC Compromised, DG Oteh Admits Hiring Access Bank Top Staffers

…. Says Access Bank Pays Salaries Of Staffers Hired By SEC Who Occupy Strategic Positions. ABUJA, March 14, (THEWILL) – The Director General of the Securities and Exchange Commission (SEC), Arunmah Oteh admitted under oath Wednesday afternoon before the House Committee on the Capital Market that two Access Bank Plc staffers who are currently occupying […]

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